Economic outlook brightening but political risks loom large in 2024, say chief economists
Geneva, Switzerland – The latest Chief Economists Outlook released on May 29 presents a growing sense of cautious optimism about...
Economy
Ajman seeks strategic alliances at Arabian Travel Market 2024
Ajman, UAE - The Arabian Travel Market 2024 (ATM) kicks off in Ajman from May 6 to May 9, celebrating...
Business
Economy
UAE, Philippines to cooperate in digital sector with focus on data centers
Abu Dhabi, UAE - The UAE and Philippines signed an agreement to create a framework for investment in the digital...
- As physical facilities that organizations use to store critical data and run applications, data centers are vital parts of the digital economy infrastructure
- Recognized as one of the emerging data center markets worldwide, the Philippines offers a robust, rapidly growing ecosystem in this sector
COP28 UAE
Indian spiritual leader Sadhguru to kick off COP28 faith pavilion
Dubai, UAE – Indian spiritual leader Sadhguru will address the first-ever Faith Pavilion at COP28 on Friday December 1, kicking...
- Head of the Isha Foundation and founder of the Save Soil movement will present his vision on the critical role of healthy, living soils in mitigating the impacts of climate change
- Sadhguru has built up an international following, with over a billion views on YouTube and 11 million followers on Instagram, with his message of spirituality and climate action
Geostrategy
MoHRE asks over 12,000 private firms to meet Emiratization targets
DUBAI, UAE – The Ministry of Human Resources and Emiratization (MoHRE) has notified over 12,000 private companies with 20-49 workers...
- Companies with 20-49 workers will be required to hire one UAE national in 2024 and another one in 2025.
- This step is expected to create around 12,000 jobs annually for UAE nationals in 2024 and 2025 in various sectors.
Economy
Siranna: NEOM’s premier destination for elite travelers revealed
NEOM, Saudi Arabia – NEOM, a futuristic city planned by Saudi Arabia in its northwestern Tabuk Province, has unveiled Siranna,...
- The destination offers uninterrupted views of the Red Sea, with its tiered design offering diverse views and perspectives
- Arriving via waterborne transportation to the secluded bay, guests will journey through the natural rock formations before reaching the entrance of the property
30 Palestinian civilians freed under truce deal: Israel
The overnight releases, which came after a sixth batch of hostages were freed from Gaza, bring the number of Palestinian...
- During the night, 30 male and female security civilians were released from a number of prison facilities," the country's prison service said in a statement
- Among those freed was Ahed Tamimi, a 22-year-old activist who has become a key figure for Palestinians defying the Israeli occupation
Geostrategy
Israel’s security impossible without resolving Palestinian problem: Russia
United Nations - Israel’s security can be ensured only through a lasting solution to the Palestinian problem and Russia is...
- Many questions arise about ways of reviving Gaza and about the future lasting solution to the Palestinian problem in general, Vasily Nebenzya said
- The mechanism of external backing for conditions for a lasting, stable settlement on the basis of the two-state solution should be really representative, he added
Business
Aster to separate its India and GCC businesses
Dubai, UAE - Aster, an integrated healthcare provider, is separating its India and GCC businesses, subject to regulatory and corporate...
- Under the plan, a consortium led by Fajr Capital has entered into an agreement to acquire a 65% stake in the ownership of the GCC business
- The separation plan will unlock value for the shareholders by allowing both the India and GCC businesses to adopt a market-focused strategy
Geostrategy
UNGA resolution calls upon Israel to withdraw from the occupied Golan Heights
United Nations - The UN General Assembly adopted a resolution calling upon Israel to withdraw from the occupied Golan Heights,...
- A total of 91 countries voted in favor of the document, including Russia, Brazil, India, China and Saudi Arabia
- Eight countries, including the United States and the United Kingdom, voted against. 62 countries abstained
Economy
UAE to invest $20-25 bn in cash-strapped Pakistan
Abu Dhabi, UAE - The UAE and Pakistan recently sealed a significant deal, potentially injecting between $20 to $25 billion...
- The move comes as Pakistan grapples with economic challenges, including a balance of payments crisis and dwindling foreign exchange reserves
- Pakistan Prime Minister Kakar hailed the signing as a historic milestone that would elevate economic cooperation between the two nations
Geostrategy
Dubai Future Forum calls for creation of global framework
DUBAI, UAE: Governments and the United Nations should create an internationally adopted framework specifically designed to help solve global challenges,...
- The event examined the proliferation of AI and the future dynamics between humans and machines.
- It also discussed as to how the people and societies can adapt to rapid technological advancements.
Economic outlook brightening but political risks loom large in 2024, say chief economists
Geneva, Switzerland – The latest Chief Economists Outlook released on May 29 presents a growing sense of cautious optimism about...
Economy
Company News
Latest News
Goldman Sachs, Mubadala ink pact
Business
Non-Jordanian investors own 47% of ASE market value as of February 2024
AMMAN, JORDAN – Data released by the Amman Stock Exchange reveals that non-Jordanian investors bought shares worth US$12.5 million (JD8.9...
Market Report
Doha Bank bond issue oversubscribed four times
Doha, Qatar - Doha Bank has successfully issued $500 million in international bonds, garnering a total order book of $2...
Business
UAE elected Vice Chair of UNESCO’s committee for promotion of cultural diversity
Abu Dhabi, UAE - The UAE has been elected the Vice Chair of the UNESCO's Intergovernmental Committee (IGC) for the...
Arts & Culture
Most Read
Geostrategy
Dubai’s assets in endowment sector reaches US$2.8bn
DUBAI, UAE – Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said that under the guidance of Vice...
- Dubai witnessed an 18 percent increase in endowment assets compared to the previous year.
- The Crown Prince was briefed on key developments in the field of endowment work in Dubai.
Business
ADCB approves cash dividends worth US$1.1bn Â
ABU DHABI, UAE – Abu Dhabi Commercial Bank (ADCB) has approved the Board of Directors proposal to distribute a cash...
- ADCB’s physical-cum-virtual 40th Annual General Assembly meeting approved the decision.
- The Board of Director’s proposal means distributing cash dividend of $0.15 (AED0.56) per share.
Business
Fraud and volatility fears persist as bitcoin barrels on
Specialized companies such as Grayscale and Wall Street giants such as asset manager BlackRock are among those investing in the...
- On Tuesday, bitcoin - the most widely used cryptocurrency - reached its all-time high, topping $69,191, surpassing its previous high set in November 2021
- The launch of a new investment vehicle - bitcoin-indexed exchange traded funds (ETFs) in the US last January - has further spurred prices.